Sharon LaFraniere. Joseph Mifsud Kilimnik, Konstantin V. Trump, Donald Jr. References to: Bannon, Stephen K. Dmitriev, Kirill F. Flynn, Michael T. Kilimnik, Konstantin V. Kislyak, Sergey I. Prince, Erik D. He writes that while there was ample evidence of contacts between the Trump campaign and Russia, the evidence was not strong enough to support bringing criminal charges.
Nicholas Fandos. Joseph Mifsud Kislyak, Sergey I.
Trump or Russia. References to: Kilimnik, Konstantin V. References to: Rosenstein, Rod J. Sessions, Jeff. References to: Cohen, Michael D.
Corporate Governance and Fraud: Evolution and Considerations
Trump campaign. Two others have been made public, including prosecutions involving Mr. Cohen, and Gregory B. Craig, a White House counsel in the Obama administration. Adam Goldman. References to: Clinton, Hillary F. Facebook Russian social media manipulation Trump campaign. References to: Facebook Instagram Russian social media manipulation Twitter.
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References to: Russian social media manipulation. References to: Putin, Vladimir V. Russian sanctions. References to: Facebook Russian social media manipulation. References to: Clinton, Hillary Facebook Russian social media manipulation. References to: Facebook Russian social media manipulation Twitter. References to: Russian social media manipulation Stone Jr. Trump campaign Twitter.
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Russian social media manipulation Trump campaign Trump, Donald J. References to: Russian social media manipulation Trump campaign. Russian hacking Trump campaign WikiLeaks. Russian hacking. Russian hacking WikiLeaks. Russian hacking Twitter WikiLeaks. Trump campaign WikiLeaks.
Russian hacking Trump, Donald J. Twitter WikiLeaks. References to: Clinton, Hillary Stone Jr. References to: Flynn, Michael T. Stone Jr. Trump, Donald J. Clovis, Sam Flynn, Michael T. Trump, Ivanka.
Sater, Felix H. Trump Organization Trump Tower Moscow. Klokov, Dmitry Putin, Vladimir V. Peskov, Dmitri S. Russian sanctions Sater, Felix H. Trump Tower Moscow. Lewandowski, Corey Peskov, Dmitri S. Trump Organization Trump, Donald J. Trump campaign Trump presidential transition team Trump, Donald Jr. Trump, Eric. References to: Facebook G. This goes much farther, and helps explain why the F. Matt Apuzzo. Timofeev, Ivan Trump campaign. Timofeev, Ivan Trump Organization. Russian hacking Trump campaign. References to: Page, Carter.
Russian sanctions Trump campaign Trump, Donald J. Actively managed funds are typically also linked to a particular benchmark. However, the goal of such funds is not to reflect this benchmark but to outperform it in terms of producing better returns. Index hugging is a problem for investors because they may make investment decisions based on an expectation that they will be provided with a more active fund management service than they receive in practice. They may also be paying higher management fees than necessary. The purpose of this paper is to investigate the need for legal measures to ensure a higher degree of investor protection against practices of closet indexing.
Analyses of investor protection issues related to closet index funds are highly topical because, in the course of the recent years, several European regulators have identified widespread index hugging practices. In , the attention of the European Securities and Markets Authority ESMA was drawn to the alleged practice of closet indexing in the European collective investment management industry.
They also concluded that DNB failed to deliver the service their customers paid for. The Swedish and Danish FSA provided further insights into problematic practices related to index hugging. Consequently, class action suits have been filed in both Norway and Sweden. In the first instance, the court ruled in favour of the bank.
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The analyses in this paper are based on the European legal framework for fund management and examine how this framework is applied in Scandinavian countries. The paper shows that there are different approaches to the identification of closet index funds in Scandinavian FSAs.
Stephen Choi - Publications | NYU School of Law
Despite the identification of several cases that the national FSAs of Scandinavian countries have defined as involving problematic and illegal practices related to closet indexing, there have been few consequences related to the responsibility of asset managers. Challenges in the enforcement of the European legal framework for fund management, in particular a lack of interplay between private and public law remedies, are revealed.
For these reasons, this paper advocates the need for legal measures to secure a higher degree of investor protection against practices related to closet indexing. In particular, there is a need for a coordinated approach to identifying closet indexing and developing measures to secure a more effective enforcement of the European legal framework for fund management. The fund manager has a general duty under the UCITS Directive Article 14 to act honestly, fairly, and professionally in the best interests of the fund investors.
Typical examples of credence goods are expert services for which the customer lacks the necessary information and knowledge to assess the quality of the service provided. If investors were able to assess the quality of the services of their fund managers, they would not choose to pay high active management fees for what is, in reality, passive management.